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Chinese Nationals Settle Charges of Insider Trading in Advance of Merger
SEC v. All Know Holdings Ltd., Sha Chen, Lili Wang, Zhi Yao, Xuechu Yang, Yonghui Zhang, and Jie Meng
- 2013
- $691,890
This case was brought to freeze assets and address suspicious trading in advance of a publicly announced merger between Beijing-based Global Education and Technology Group, Ltd. and London-based Pearson plc. Settlements were reached with defendants Meng, Wang and Zhang, who consented to injunctions and money sanctions. Their alleged illicit trading profits were calculated to total approximately $380,000.
